Daily News related to the Foreclosure Crisis

The biggest unpunished heist in human history - Max Keiser

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02/15/18

House approves changes to TRID rule, loan originator licensing rules

Housing Wire

House approves changes to TRID rule, loan originator licensing rules
The House of Representatives last night approved a bill that could bring big changes to the mortgage industry, including making it easier for loan originators to move from a traditional bank to a nonbank.

02/14/18

Lawyers don’t need special protection to work as debt collectors

Kansascity.com

Lawyers don’t need special protection to work as debt collectors
Congress is considering a bill that has been titled a “technical clarification” for the practice of law. Sounds quite innocent and humdrum, doesn’t it? But the true aim of the bill is much worse. It intends to shield debt collection lawyers from the very laws that outlaw unfair debt collection practices.

02/14/18

TILA RESCISSION: The Bottom Line for Now

Living Lies

TILA RESCISSION: The Bottom Line for Now
Probably the main fallacy of the people who say that TILA Rescission is not possible or viable is that they project the outcome of a lawsuit to vacate rescission.

02/14/18

Act Now: California Legislators take the Teeth out of the California Homeowner Bill of Rights

Living Lies

Act Now: California Legislators take the Teeth out of the California Homeowner Bill of Rights
By Attorney Patricia Rodriguez 2013 vs. 2018: CALIFORNIA’S HOMEOWNER BILL OF RIGHTS: Due to no legislation being enacted/amended to extend borrower protections currently found within the Homeowner Bill of Rights (“HBOR”) (2013) California borrowers have lost the following protections against often overzealous and aggressive mortgage/loan servicers:

02/13/18

Nationstar (aka Mr. Cooper) merging with WMIH Corp. in $3.8 billion deal

Housing Wire

Nationstar (aka Mr. Cooper) merging with WMIH Corp. in $3.8 billion deal
For more than 11 years, Fortress Investment Group controlled Nationstar Mortgage, the nonbank now known as Mr. Cooper, via majority ownership in the company’s shares.

02/13/18

Bill to address Madden ruling would be nightmare for consumers

American Banker

Bill to address Madden ruling would be nightmare for consumers
A vote is expected imminently in the House on the so-called Madden bill, which, if it becomes law, would spread predatory triple-digit loans, like a virus, to every state in America. The legislation would ensnare borrowers in financially devastating debt traps.

02/13/18

Fannie Mae selling more than $1 billion in non-performing loans

Housing Wire

Fannie Mae selling more than $1 billion in non-performing loans
Fannie Mae is continuing to shed non-performing loans from its books, announcing Tuesday that its plans to sell off more than $1 billion in delinquent loans.

02/12/18

CFPB funding slashed, enforcement authority reined in by Trump budget

Housing Wire

CFPB funding slashed, enforcement authority reined in by Trump budget
Back in May 2017, President Donald Trump’s 2018 federal budget proposal put the Consumer Financial Protection Bureau in its crosshairs, recommending slashing the bureau’s budget to almost nothing as a method to rein in the seemingly negative impact of the CFPB on consumers

02/12/18

Trump Administration Plans To Defang Consumer Protection Watchdog

NPR

Trump Administration Plans To Defang Consumer Protection Watchdog
The Consumer Financial Protection Bureau was created after the financial crisis to protect Americans from being ripped off by financial firms.

02/09/18

Can He Say That? Frustrated Attorney Asks, 'What's Wrong With the Third DCA?'

Daily Business Review

Can He Say That? Frustrated Attorney Asks, 'What's Wrong With the Third DCA?'
Fort Lauderdale attorney Evan M. Rosen is criticizing a state appellate court — via news release — in a move that seems to flirt with breaking Florida Bar rules against impugning the integrity of judges.

02/09/18

Ten Years After the Crisis, Banks Win Big in Trump’s Washington

Bloomberg

Ten Years After the Crisis, Banks Win Big in Trump’s Washington
In early February, with the Treasury secretary testifying about wild gyrations in the stock market and the Federal Reserve leveling unprecedented penalties against Wells Fargo & Co., it may have felt like 2008 again, with the financial system under siege. In reality, banks are booming, at least in Washington.

02/09/18

Servicer’s don’t want Payments they want Defaults

Deadly Clear

Servicer’s don’t want Payments they want Defaults
Dirty paper, dirty tricks! We’re all sick and tired of it. Let’s get real here folks – it’s not just Citibank and it’s probably not Citibank at all. It is likely that all roads lead to the fraudulently concealed Fannie Mae and Freddie Mac – along with their ol’ pal …U.S. Treasury.

02/08/18

Ginnie Mae threatens to boot lenders from bond program over VA loan churning

Housing Wire

Ginnie Mae threatens to boot lenders from bond program over VA loan churning
Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages.

02/07/18

PA ranked among worst for home foreclosures

Mtwintiers.com

PA ranked among worst for home foreclosures
A new report says Pennsylvania has some of the highest foreclosure rates in the nation.

02/07/18

NY acquires 92 distressed LI mortgages to avoid foreclosures

NewsDay

NY acquires 92 distressed LI mortgages to avoid foreclosures
New York State has taken over 92 distressed mortgages on Long Island to help homeowners avoid foreclosure and prevent homes from becoming “zombie” properties.

02/07/18

CFPB requests information on its own enforcement process

Housing Wire

CFPB requests information on its own enforcement process
The Consumer Financial Protection Bureau announced Wednesday it is investigating and requesting information on its own enforcement process.

02/07/18

BofA Judge Says ‘No Dice’ to Request to Vacate Scathing Ruling

Stopforeclosurefraud.com

BofA Judge Says ‘No Dice’ to Request to Vacate Scathing Ruling
A bankruptcy judge who slammed Bank of America Corp. for its treatment of a California couple over a foreclosure declined a request to tear up the scathing

02/07/18

Ghostwriter: Fabricating Original Wet Blue Ink Signatures — the Underlying Fraud Behind Nearly all Foreclosures

Living Lies

Ghostwriter: Fabricating Original Wet Blue Ink Signatures — the Underlying Fraud Behind Nearly all Foreclosures
Want to know how they popped up with an “original” note that looked like the original?

02/06/18

Even the Bank Attorneys Admit that NO Tender or lawsuit is Required in TILA Rescission. Burden is on the “lender” side.

Living Lies

Even the Bank Attorneys Admit that NO Tender or lawsuit is Required in TILA Rescission. Burden is on the “lender” side.
It appears that I have struck a nerve with many of the people who seek to prove me wrong in my “theories.” They are facts, not theories.

02/05/18

What and Who is a Creditor?

Living Lies

What and Who is a Creditor?
Practically everyone thinks they know what is a creditor even if they cannot identify who is the creditor. The reason that this is

02/05/18

Jerome Powell officially takes over for Janet Yellen as Fed chair

Housing Wire

Jerome Powell officially takes over for Janet Yellen as Fed chair
On Monday, Jerome Powell took the oath of office and was sworn in as the next Fed chair.

02/02/18

Did Mick Mulvaney just drastically change how the CFPB enforces fair lending laws?

Housing Wire

Did Mick Mulvaney just drastically change how the CFPB enforces fair lending laws?
Reportedly strips Office of Fair Lending of its enforcement powers

02/01/18

Why Fannie May and Freddie Mac Should be Subject to FOIA, and How it Could Happen

San Diego Free Press

Why Fannie May and Freddie Mac Should be Subject to FOIA, and How it Could Happen
The Freedom of Information Act (FOIA), enacted in 1967, provides the public, individuals, and corporations, the presumptive right to access and obtain records from any federal government body unless such records meet one of the nine exemptions or is protected under special law enforcement record exclusion.

02/01/18

Mr. Cooper a.k.a. Nationstar Mortgage Settles with Mass. AG Due to Loan Modification Violations

Culik Law

Mr. Cooper a.k.a. Nationstar Mortgage Settles with Mass. AG Due to Loan Modification Violations
Nationstar Mortgage, which recently changed its name to Mr. Cooper, settled with the Massachusetts Attorney General’s Office over its violations of a law that is supposed to give homeowners a chance to modify their mortgages if they fall behind.

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